Business English Bits Issue 124
The 10-min homework newsletter that supports your advanced business and English language learning...
Greetings and welcome to the Tuesday’s edition of Business English Bits.
Today we have an extended video report from the Financial Times. At 22 minutes, it’s one of the longest we’ve had on here, but I think it’s worth a look, as it investigates the business model behind a famous Olympic sport - Boxing.
Boxing is booming! There is huge interest from younger generations, both those actively taking up the sport to keep fit as well as fans watching clips and exchanging viewpoints on social media. This young audience has made paid TV streaming services keen to invest heavily in the sport with subsequent financial rewards for boxing stars soaring.
Starting out at an amateur level and completing in competitions such as the Olympics is one way to turn pro, especially if you can pick up a medal. For those that finally decide on the professional route, fighting in local venues and working your way up the ladder is a path many have taken. Only the top one per cent, however, have any chance of making real money.
Not only must a boxer have real talent, but as we see in the report, this must connect with a top management team, good marketing, sponsorship and the ability to sell tickets. Some boxers even have to put up* their own cash just to get a bout**. Then, after training twice a day and avoiding injury, it’s a question of keeping hold of your winning record. Start losing and it’s almost back to square one***.
*To put up (pv) - To provide
*Bout (n) - Fight
**Back to square one (ph) - Back to the beginning
Boxing is not just a hugely competitive sport, it’s entertainment and above all a business. Saudi Arabia’s support for the sport has allowed those at the top to leave behind financial worries and some argue that this has created more space at national or local level for newcomers to enter the ring.
Focus on some key new nouns from the video …
VIDEO: FT - (22min) - Boxing: the fight to make a living from turning pro
Key Words - (Smth = Something; Sb=Someone; Col=Colloquial)
Flush (col adj) - Having plenty of smth, especially money
Pinnacle (n) - Most successful point
Be-all and end-all (ph) - Essential or ultimate
Springboard (n) - Smth that helps you start an activity
Good shot at smth (ph) - best chance that sb has of achieving smth
To Recoup (v) - To regain money spent through subsequent profits
On point (ph) - Exactly right
In good stead (ph) - Useful or helpful to someone or something
To Have a go at sb (ph) - To criticise or verbally attack
Purse (n) - Available money or winnings
Second to none (ph) - As good as or better than all others
To Take your hat off to sb (ph) - Give sb praise or credit
Influx (n) - Entry of large numbers of people or things
Swag (col n) - Confidence
To Blow your own trumpet (ph) - To talk boastfully about one's achievements
To Pull the strings (ph) - To control sb or smth
To Bin (v) - To get rid of
To Warrant (v) - To justify
To Get by (pv) - To manage with difficulty to live or accomplish smth
Word of the Day … Guess the missing key word. Answer given below with examples!
Some new phrasal verbs to review …
Word of the Day Answer:
Sweeping (v) - Wide in range or effect
Examples:
“The sweeping changes kept the workforce on their feet.”
“Human Resources were given sweeping powers to implement new policies.”
Have an enjoyable Tuesday and see you tomorrow for the phrasal verb test …
Kevin